20 Jan 2012

EUroZone: Hedge Funds to Sue Greece

The threat of a Greek default is still in the air as failed talks send signals that they might miss a 14.5 billion Euro bond payment on March 20th. In order for Greece to receive its latest bailout and cut its debt, bond restructuring is considered a key element. And Greece is considering passing legislation to force all private bondholders to take losses. So the hedge funds are fighting back and threatened to sue Greece in a human rights court arguing that Greece violated bondholder rights. Capital Account's Demetri Kofinas Source